Lot 26 - FREEHOLD RESIDENTIAL INVESTMENT

Sold £150,000

Currently let at £12,520 per annum

A mid-terrace three storey property arranged as six self-contained flats. Four flats are sold on long leases and two are let on Assured Shorthold Tenancy Agreements with the building producing £12,520 per annum in total. We understand that the freeholder insures, manages and maintains the block recovering the costs from the freeholders by way of a service charge.

Cavendish Place is situated between the Eastbourne town centre and the seafront just off the main A259 and close to comprehensive shopping facilities and amenities and mainline railway station.

70 Cavendish Place

Ground Floor Flat 1 (Front)

Studio room with kitchenette and shower room with W.C.

Tenancy

Let on an Assured Shorthold Tenancy at a current rental of £560 per calendar month.

Flat 2 (Rear)

Tenure

Sold on a 99-year lease from 1st January 2012 at a current ground rental of £50 per annum.

70A Cavendish Place

First Floor Flat 1

Tenure

Sold on a 99-year lease from 2nd August 2016 at a current ground rental of £150 per annum.

Flat 2A

Tenure

Sold on a 99-year lease from 13th December 2016 at a current ground rental of £150 per annum.

Second Floor Flat 2

Tenure

Sold on a 99-year lease from 1st January 2012 at a current ground rental of £50 per annum.

Flat 3 (Rear)

Studio room with kitchenette and shower room with W.C.

Tenancy

Let on an Assured Shorthold Tenancy at a current rental of £450 per calendar month.

Auctioneer's Note

Section 5B Notices under the Landlord and Tenant Act 1987 (as amended) have been served and the leaseholders have not reserved their rights under the legislation.

Important

All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on Auction Day.

* Price Information

Guides are provided as an indication of each Seller’s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction).

We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.

Additional Fees

An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer.

All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to cliveemson.co.uk/buyers-fees/